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Here's the right way to handle that big money inheritance

Here's the right way to handle that big money inheritance

Finance
What's the best way to use an inheritance?It's a question worth considering, with the U.S. on the cusp of a significant wealth transfer. Baby Boomers are poised to inherit $ 12 trillion from their parents and then in the coming decades, pass on an estimated $ 30 trillion to their own heirs.If you receive an inheritance, the first thing to do is pause, said Gail Cohen, chair of the board or directors and general trust counsel for Fiduciary Trust Company International. Take time to grieve and process the loss of your loved one."I don't think any big decisions should be made during that period of time," she said.Before you start spending, take stock of any obligations or costs around the inheritance, said Susan Bradley, a certified financial planner and the founder of the Sudden Money Institu...
Everyone is upset about India's banking mess except NBFCs. Here's the reason why

Everyone is upset about India's banking mess except NBFCs. Here's the reason why

Finance
When Infrastructure Development and Finance Co (IDFC) was granted universal banking licence in 2014 from among 26 applicants, it was the envy of those who missed out on the coveted prize. Three and a half years later, both investors and the managements that were not lucky enough, are smiling. A surge in liquidity, regulatory arbitrage, and the crippled state of banks converged to make the non-banking finance company (NBFC) business model a success with equity investors latching on to any business that would reflect the Indian financial services growth without its baggage of bad loans. Life has come a full circle with premium attached to banks shrinking while NBFCs gaining traction. IDFC Bank which came into being in 2015 has lost 15.91 per cent since, while its parent IDFC gained 16.33...
49,000 Aadhaar centres blacklisted for fleecing: Here's how to avoid getting conned

49,000 Aadhaar centres blacklisted for fleecing: Here's how to avoid getting conned

Finance
A recent revelation by the Unique Identification Authority of India (UIDAI) that it has blacklisted over 49,000 Aadhaar enrolment centres since its inception for fleecing and overcharging enrollers is a matter of concern for those who are yet to obtain Aadhaar or need to make corrections. Given that Aadhaar has become a vital document, it is important for us to ensure that we do not fall prey to these unscrupulous elements. The ill intentions of 'enrolment officials' fleecing consumers also raises a huge security concern. Therefore, if you are visiting an enrolment centre to get your Aadhaar details corrected or are applying for a new one, you must keep the following things in mind. 1. Currently, there is no fee to apply for a new Aadhaar card. It is clearly stated on the Aadhaar webs...
Here's what happened when I tried to freeze my credit

Here's what happened when I tried to freeze my credit

Finance
Freezing your credit after Equifax hack...not so easyLike millions of other people, I freaked out a little last week when I learned that my personal information "may have been impacted" by the Equifax breach.Thieves got the mother load of data, which they could use to open credit cards or loans in my name. But what should I do to protect myself? I wasn't sure. Equifax said it was offering a free credit monitoring service, so I decided to start there. I tried to sign up for it right away on Friday, but instead I was given an enrollment date to come back: September 13. I would have to wait almost a week to get it. In the meantime, I pulled one of my credit reports to see if anyone had tried to open an account in my name. So far, so good. I also placed what's called a fraud alert on my cre...
With Florida, Georgia under evacuation orders, here's how to change travel plans

With Florida, Georgia under evacuation orders, here's how to change travel plans

Finance
As forecasters issue hurricane and storm-surge watches for parts of Florida, airlines and cruiselines are making it easier for U.S. travelers to troubleshoot their plans and stay out of Hurricane Irma's way.The latest advisories from the National Oceanic and Atmospheric Administration's National Hurricane Center predict that the "potentially catastrophic" Category 5 storm will move over Turks and Caicos and southeastern Bahamas by late Thursday."Some fluctuations in intensity are likely during the next day or two, but Irma is forecast to remain a powerful category 4 or 5 hurricane during the next couple of days," according to the advisory.A long list of areas are under hurricane warnings, including parts of the Dominican Republic, Haiti and the Bahamas; areas under a hurricane watch now in...